CFTC to Host Cryptocurrency CEO Forum to Discuss Digital Asset Market Pilot Program

On November 24th, as monitored by The Data Nerd, Wintermute withdrew 24,124 AAVE from Kraken, which was approximately worth $4.1 million.

On November 24th, according to Reuters citing Hashrate Index data, China used to be the world's leading cryptocurrency mining country. However, in 2021, due to concerns about national financial stability and energy conservation, it completely banned all cryptocurrency trading and mining. With the market share gradually recovering to 14% by the end of October, China has re-entered the global third position. Wang, a private miner in Xinjiang, stated that he mines in an area abundant in electricity, saying, "A large amount of energy cannot be transmitted from Xinjiang, so it is used through cryptocurrency mining." At the same time, as investors' distrust of the dollar intensifies, mining has become more profitable. CryptoQuant estimates that currently about 15% to 20% of the global Bitcoin hashrate comes from China.

On November 24th, as per official channels, the original staking service provider Kiln announced the launch of the institutional-facing yield infrastructure Railnet. The announcement indicated that Railnet is an open yield layer that standardizes the flow of capital among different yield sources. It does not partake in deposit competitions but rather connects asset management firms, protocols, and platforms through a unified conduit. The protocol is collaborating with Ethena, Sentora, Chainlink, and others. In September, the staking service provider Kiln announced that following the hack of SwissBorg, which led to a loss of approximately $41 million worth of SOL, it will begin the orderly exit of all Ethereum validating nodes on September 10, 2025. The process is anticipated to take between 10 and 42 days to finish, with an additional 9 days for withdrawal as a precautionary measure to safeguard asset security.

On November 24th, the StandX mainnet was officially launched at 4:00 PM in Hong Kong time. All the DUSD previously locked by users will be automatically transferred to their Perp wallet. During the operation of the mainnet, users will automatically receive points even if they do not trade and accumulate them. The withdrawal function will be officially available three days later, on November 27th (Thursday). This launch of the mainnet marks a key milestone for StandX in terms of product capabilities and ecosystem development, providing users with a more complete trading experience and richer asset utilization scenarios.

On November 24th, the founder of Liquid Capital (formerly LD Capital), Yi Lihua, posted on social media: "In the past three days, WLFI has increased by 50 points. For a major project, this kind of counter-trend growth should be based on significant progress in its fundamental aspects. In today's ebb of the crypto narrative tide, all projects for long-term investment must research fundamentals, user base, revenue model, team background, and long-term vision."

On November 24th, according to Tokenomist's data, the first token unlock of the Hyperliquid project is scheduled to occur on November 29th at 15:30 Beijing time. It is expected that 9.92 million HYPE tokens worth $312 million will be unlocked, accounting for 2.66% of the circulating supply. This is the first unlock since the November 2024 Total Good Event (TGE). As stated in the official Medium article, the core contributor tokens are locked for one year after the TGE, and the majority of the vesting will be completed between 2027 and 2028. Meanwhile, @mlmonchain noticed that the team unstaked 2.6 million HYPE tokens (approximately worth $85.8 million) about 29 hours ago, but no official statement regarding the unlocking process has been released yet.